Wool Prices Continue to Rise

Wool Prices Continue to Rise

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 9,400 bales of North Island wool on offer this week saw a 98 percent clearance and significant price lifts in some sectors compared to the last sale in the South Island on 29th August.

The weighted indicator for the main trading currencies lifted by 1.05 percent, however resurgence in wool prices in other markets coupled with limited supply locally, bypassed any currency impact with the market lifting between 3 and 10 percent.

Mr Dawson advises that Fine Crossbred Fleece and Shears were 3 to 6 percent dearer. Good Style Coarse Full Fleece were 5 to 6 percent stronger with poorer styles lifting by 7 to 10 percent.

Coarse Shears were 6 to 10 percent dearer. Long oddments increased by 6 to 8.5 percent with shorter types 4 to 6 percent stronger.

Strong competition with Exporters sourcing for shipments to Australasia, China, Middle East and Western Europe principally, supported by India and the United Kingdom.

Next sale on 12th September comprises approximately 8,200 bales in the South Island, down 41 percent on the anticipated rostered quantity.

ENDS

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